Ulta Beauty Inc.

ULTA

430.01 (1.06%) 4.54

19.94(B)

Consumer Discretionary

Specialty Retail

Ulta Beauty Inc. operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products including cosmetics fragrance haircare skincare bath and body products professional hair products and salon styling tools through its Ulta Beauty stores shop-in-shops Ulta.com website and its mobile applications. It also offers beauty services including hair makeup brow and skin services at its stores. The company was formerly known as ULTA Salon Cosmetics & Fragrance Inc. and changed its name to Ulta Beauty Inc. in January 2017. Ulta Beauty Inc. was incorporated in 1990 and is based in Bolingbrook Illinois.

Holdings:

Cost basis:

Ulta Beauty Inc. (ULTA) price target and intrinsic value estimate

ULTA's fair price estimate is $278.7

This valuation is based on a fair P/E of 12.4 and EPS estimates of $22.43

The median analyst price target for ULTA is $452.5.

Analyst price targets range from $330.0 to $510.0

Is ULTA overvalued or undervalued?

ULTA is currently trading at $430.01

ULTA is overvalued by 54% using the pevaluation method.

ULTA is undervalued by 5% compared to median analyst price targets.

Do you agree with this valuation?

Valuation

PEvaluation

Low $209.0

Median $278.7

High $348.4

Fair P/E

Margin of safety

Analyst valuation

Low $330.0

Median $452.5

High $510.0

Strong Buy3

Buy10

Hold16

Sell2

Strong Sell0

Discounted cash-flow

TTM FCFFCF est.Growth FCFTerminal FCF

Discount rate:

10%

Terminal rate:

Growth phase length:

Growth phase rate:

10%

Economic moat: None/narrow

Overview

Market data

Market cap:$19.94(B)

Enterprise value:$21.90(B)

Total Equity:$2.33(B)

Shares outstanding:46.37(M)

Div. yield:0.00%

P/S:1.81

P/E:17.08

P/FCF:20.11

P/B:8.60

EPS:$25.2

FCF per share:$21.4

Dividend per share:$0.0

Income (TTM)

Revenue$11.36(B)

Gross profit$4.83(B)

EBITDA$1.82(B)

Net income$1.20(B)

Gross margin42.5%

Net margin10.6%

Balance sheet

Total assets$5.96(B)

Total liabilities$3.63(B)

Cash & Short-term inv.$177.78(M)

Long-term debt$0

Debt issued$199.70(M)

Debt repaid$-195.40(M)

Cash flow (TTM)

FCF$995.52(M)

CapEx$-424.77(M)

Dividends paid$0

Stock issued$12.07(M)

Stock repurchased$-944.37(M)

Stock-based comp.$42.46(M)

Future Growth

Revenue

CAGR: 4.9%

FY+1$11.20(B)

FY+2$11.61(B)

FY+3$12.23(B)

FY+4$12.85(B)

FY+5$13.54(B)

Net Income

CAGR: 3.2%

FY+1$1.12(B)

FY+2$1.05(B)

FY+3$1.13(B)

FY+4$1.18(B)

FY+5$1.27(B)

EPS

CAGR: 8.4%

FY+1$23.61

FY+2$23.30

FY+3$26.11

FY+4$28.61

FY+5$32.62

FCF per share

CAGR: 8.6%

FY+1$31.28

FY+2$35.43

FY+3$36.92

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Historical Financials

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YearlyQuarterly

Income

RevenueNet IncomeCOGSGross ProfitTotal OpEx.R&DSG&AOperating IncomeInterest ExpenseInterest IncomePre-tax incomeIncome tax

Cash flow

FCFCFONet IncomeD&AStock-based Comp.CFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures

Balance sheet

Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity

Shares outstanding

Shares (Basic)Shares (Diluted)

Per share data

EPS (Basic)EPS (Diluted)FCF/ShareDividend/ShareBook value/Share

Ratios

P/EP/FCFP/BP/SEV/EarningsEV/FCFDebt/EquityPayout ratio

Margins

Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin

Returns

ROICROAROCEROE

Market Cap.